Bitfarms Rebrands as Keel Infrastructure, Shifts Focus to AI and HPC

Bitfarms is undergoing a significant transformation as it prepares to rebrand as Keel Infrastructure, a move that reflects the company's shift from a pure-play bitcoin miner to a power-focused digital infrastructure developer.

The rebranding effort comes on the heels of shareholder approval and is expected to be completed by April 1. As part of this transition, trading under the ticker KEEL will begin on Nasdaq and the Toronto Stock Exchange two business days after closing, replacing Bitfarms' existing listing.

Keel's development pipeline is a key aspect of its new strategy, with the company advancing a 2.2-gigawatt capacity across North America. This includes 341 megawatts of energized capacity and 430 megawatts of secured future delivery, as well as another 1.5 gigawatts under development or review.

Bitfarms' bitcoin holdings will play a significant role in funding this expansion. The company currently holds approximately $161 million in unencumbered bitcoin, which it plans to 'opportunistically' sell to capture and reinvest every dollar into HPC and AI infrastructure.